President Donald Trump said Wednesday that private sector investments into the United States since he returned to office are nearing $8 trillion.
Trump shared the number while speaking with business leaders at an “Investing in America” event in the Cross Room of the White House.
“We are thrilled to welcome to the White House dozens of the world’s top leaders of all kinds, but in particular, business leaders. And since the election, the companies represented in this room have collectively announced more than $2 trillion in new investments,” Trump said.
“We have a total of close to $8 trillion all told,” he continued. “And there’s never been anything like that in this country; we’ve never had anything close. I would say, if you looked at the last administration, probably for four years, they did maybe less than $1 [trillion], and we’ve done almost $8 [trillion].
Trump predicted investments would exceed $8 trillion by the end of June.
He foreshadowed the rapid pace of investment on his first full day in office, when Oracle, SoftBank, and OpenAI announced a $500 billion investment through a joint project called Stargate. Other major companies have followed with their own investments, including Apple and Nvidia, which each announced $500 billion commitments.
SoftBank CEO Masayoshi Son and Nvidia CEO Jensen Huang were among the business leaders at the White House on Wednesday. Huang credited Trump’s leadership for the pace at which investment is pouring into the United States, noting that Nvidia is set to produce the next generation of its 70-pound processor solely in the United States.
“We’re going to build NVIDIA’s technology, the next generation of that, all here in the United States,” he said. “Without the president’s leadership, his policies, his support, and, very importantly, his strong encouragement… frankly, manufacturing in the United States wouldn’t have accelerated to this pace.”
He also commended Trump’s energy vision.
“In order for this industry to thrive, we need to build these systems, of course, but we also need a progressive growth and industry-oriented energy policy, which this president has really put his weight behind, and I really appreciate that,” he said.
Trump has taken a plethora of steps to unleash America’s energy potential on all fronts, including clean coal. He also spoke to the importance of energy as America ramps up AI production.
“When Jensen and some of the others came in… especially having to do with AI… I learned a lot. Number one, I learned we need double the electricity that we have right now for the whole country, and really, more than that,” Trump said.
